American Economic Association

In 1929 the profit reached 8.9%, very above average, and only surpassed in 2006 and after that in 2007, when it reached 10.1%. When the peaks are very superior to the average they are followed by negative taxes of profit. A recent document more than offers 4 a panoramic analysis on the 200 economic and financial crises that had occurred since the English moratorium of century 14 until the current crisis in U.S.A. The authors had concluded that, considering that the biggest episodes of insolvency even though occur in intervals spaced per years or decades, he finishes being bred the illusion that ‘ ‘ of this time he is diferente’ ‘. Recently, this illusion spread the belief that the American public deficit and the disequilibrium of its external accounts were part of the new financial landscape. In a document presented in 3 of January of 2009 5 in the meeting of the American Economic Association in San Francisco, Reinhart and Rogoff after focaram its analyses in the 18 occured financial and banking 6 crises 2 World-wide War in developed countries, such as the crises of Spain 1977, of Norway 1987, Finlndia 1991, Sweden 1991 and Japan 1992. Of the occured crises in the emergent markets, them they had examined the crises of Asia 1997-1998 (Hong Kong, Indonesia, Malaysia, Filipinas and Thailand), of Colombia 1998 and Argentina 2001.

A declaration in particular deserves prominence: ‘ ‘ It has one year, us we present a historical analysis comparing the financial crisis sub-prime with the antecedent banking crises since.